A survey from Zurich-based deVere Group found that wealthy
investors think failing to diversify their portfolios is their
biggest investing mistake, reports Christopher Robbins.

“It is surprising how many people fail to do this,”
the firm’s CEO, Nigel Green, said. “Having a
well-diversified portfolio across asset classes, sectors and
regions means you are best placed to mitigate risks and best
placed to take advantage of important opportunities."

The investors named other big mistakes, including not investing
earlier, focusing too much on the short-term, and being too
emotional with their investments.

The UBS robo deal is a game changer because it "legitimizes"
the discussion about robo advice in wealth management,
argues Bill Winterberg, founder of
FPPad.com. He added that it pressures other firms to
also zero-in on their digital strategies.

"The attention is away from the disruptors," Winterberg
said. "Our attention is now focused on the industry incumbents.
We're talking about BlackRock, LPL, Pershing and UBS. We are not
talking about VC-funded robo startups anymore."

"Today’s profound technological changes are transforming
various industries and sectors, and they hold a massive influence
on cash flow dynamics at every level of the economy," wrote
BlackRock's Rick Rieder in an exclusive contributor post
for Business Insider.

"Further, many of these changes are not adequately
reflected in traditional economic measures, so they are
underappreciated by many in financial circles. Yet we think
investment success in the decade ahead will largely rest on
a sophisticated understanding of how secular changes such as
these are unfolding."

Billionaire hedge fund manager George Soros is betting big
against the S&P. Katy Barnato reports that in the first
quarter, Soros Fund Management owned aput
optionof 2.1 million shares on the SPDR S&P 500
exchange-traded fund (ETF), which tracks the benchmark U.S.
index.